Where does credit card fraud take place?
February 13, 2007
Most people think that credit card fraud takes place online, usually when making on online purchase. Surprisingly, this was one of the last sources of credit card fraud, according to the Javelin Strategy & Research 2007 Identity Fraud Survey.
Among the ways personal information is obtained:
38% — From lost or stolen wallet, checks or credit cards
15% — From friends or acquaintances
15% — From a retail purchase-credit transaction
9% — From stolen paper mail
8% — From computer viruses or hackers
4% — From phony e-mails
4% — From online purchases
What happens to your credit score when you get married?
February 7, 2007
When you get married, you and your spouse will have some big financial decisions to make together, such as buying a car, buying a house, etc.
It’s not unusual for spouses to have completely different credit scores when they get married. So, how does one spouse’s poor score affect the other spouse’s good credit score?
One common misconception is that married couples have a joint credit score. This is not correct. Each of you will have an individual credit score. The lower credit score will not affect the higher score, unless you apply for joint credit.
Do Not Call Lists
January 20, 2007
We’ve been getting a lot of sales calls lately, both at home and on my business phone, so I thought now would be a good time to revisit the Do Not Call registries.
You can register your phone numbers (including cell phones) directly at the National Do Not Call Registry website, or you can call 1-888-382-1222. There is information about telemarketing fraud, checklists, and how to report vilations on the website as well.
To stop credit card solicitations, visit www.optout-prescreen.com or call 1-888-567-8688. Until the credit card offers stop, you should shred them using a cross-shredder to avoid potential fraud.
How to establish credit
January 13, 2007
If you’re just starting out in your financial life, you may not have any established credit. You need credit for many things - renting an apartment, car rentals, credit cards, buying a car, etc. Here are some tips on how to build your credit:
- Become an authorized user on a parent’s, spouse’s or other relative’s credit card account. Being an authorized user allows you to piggyback off of someone elses’s good credit, because the payment history of the account will be reported on your credit report.
Free Annual Credit Report
November 9, 2006
There is only one legitimate website to get your free annual credit report and it is www.annualcreditreport.com. Beware of ads or other websites that offer a free annual credit report. Many of these are scams or they are trying to sell you something.
At www.annualcreditreport.com, you can request a free credit report once every 12 months. This credit report does not include your credit score, but you can purchase your credit score by contacting one of the three credit reporting agencies (Equifax, Experian or TransUnion).
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